Germany open to cancellation of Greek pension cuts

Germany is reportedly open to a cancellation of Greek pension cuts, due to be implemented in the beginning of 2019, provided that Athens will deliver on its fiscal and reform commitments.

Europe Daily Kathimerini quoted German officials

Daily Kathimerini quoted German officials as saying that “the figures that will be presented must be sacred and unchangeable like the commandments received by Moses.”

The same report said that Berlin and the eurozone do not want the possible skipping of pension cuts to be seen as a unilateral action by Greece “as this could pave the way for a crisis in the bloc – which is the last thing EU officials would want given the unfolding financial situation in Italy.”

Moreover, local media said that the eurozone finance ministers could reach the decision on pension cuts during the extraordinary Eurogroup meeting on November 19, as the final text will have to be submitted in Parliament by November 21. ■